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Private Finance Initiative

Written Parliamentary question to the Chancellor for the Exchequer

Wednesday, November 14th, 2018
Source: 
Hansard

To ask the Chancellor of the Exchequer, what assessment he has made of the effect of changes to PFI contracts announced in Budget 2018 on job security.

The government has announced that it will no longer use Private Finance 2 (PF2), the current model of the Private Finance Initiative (PFI), for new projects. PF2 has not been used since 2016.

 

 

However, the government will continue to support private investment in infrastructure through a range of successful established tools. Project finance and commercial skills therefore remain highly valued and critical to infrastructure delivery for government. The government has announced that it will honour existing PFI and PF2 contracts. In addition, the government will launch a pilot ‘Centre of Best Practice’ (CBP) in the Department of Health and Social Care to help Trusts maximise the value of their existing PFI contracts.